Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Turkey’s looming prison massacre grows nearer

It appears Erdogan fears that if the judiciary begins trial for key political prisoners, the prisoners would have a venue at which to speak and raise questions Erdogan does not want addressed, especially with regard to the possibility that the events on the evening of July 15 were Turkey’s equivalent of the Reichstag fire.

Purge-victim businessman sent back to prison a week after stomach cancer surgery: son

Hacı Boydak, a Kayseri-based Turkish businessman, has been put in solitary confinement only one week after he underwent a cancer surgery, according to his son.

Erdogan set up Maarif Foundation to seize Hizmet-inspired Turkish Schools

Despite tremendous efforts exerted by the government, only a few countries have given in to pressure from Ankara over the shutdown of Hizmet-linked schools, with a majority of them refusing to meet the demands of the Turkish government.

Turkey’s MGK says discussed organizations threatening national security

Although Erdoğan insists that there would be a legal move against the Hizmet, opponents and critical voices point to lack of evidence necessary for a criminal investigation against the Movement.

Ex-ministers call on gov’t to abandon efforts to shut down Turkish schools

Reactions are growing in the face of the government’s effort to close Turkish schools abroad that are affiliated with the Hizmet movement, inspired by the teachings of Turkish Islamic scholar Fethullah Gülen.

Kosovo grants asylum to Turkish national

About five months after submitting a request for asylum, Ugur Toksoy, a Turkish national whose  extradition procedures to Turkey were terminated by the State Prosecution in December last year, was granted refugee status in Kosovo.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Couple jailed for watching Fethullah Gülen videos at Internet cafe

International Workshop – Hizmet Movement between Political Islam and Civil Islam

[Press Release] The Corruption and Slander against the Hizmet Movement

Int’l symposium in Washington D.C. to discuss Hizmet’s contribution to world peace

Kazakhstan and Kyrgyzstan Reject Turkish Calls to Close Gülen Schools

Retired on disability, former bomb disposal expert kept in jail for a month over Gülen links

ISPO becomes Turkish schools’ success story in Indonesia

Copyright 2026 Hizmet News